Shares of Ion Geophysical Corp. (NYSE:IO) were down 2.2% during trading on Friday . The stock traded as low as $5.22 and last traded at $5.39, with a volume of 65,212 shares changing hands. The stock had previously closed at $5.51.

The stock’s market capitalization is $65.90 million. The company’s 50 day moving average is $5.79 and its 200 day moving average is $6.52.

Ion Geophysical Corp. (NYSE:IO) last announced its earnings results on Wednesday, August 3rd. The company reported ($1.85) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.86) by $0.01. The business had revenue of $36.15 million for the quarter, compared to the consensus estimate of $38.90 million. During the same quarter last year, the firm posted ($4.05) EPS. The business’s quarterly revenue was down 1.7% on a year-over-year basis. Analysts expect that Ion Geophysical Corp. will post ($7.24) EPS for the current year.

In related news, Director James M. Lapeyre, Jr. purchased 46,000 shares of the stock in a transaction dated Thursday, June 30th. The stock was purchased at an average price of $5.77 per share, with a total value of $265,420.00. Following the transaction, the director now directly owns 627,309 shares in the company, valued at $3,619,572.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David H. Barr purchased 10,000 shares of the stock in a transaction dated Wednesday, June 1st. The stock was bought at an average cost of $6.95 per share, with a total value of $69,500.00. Following the transaction, the director now owns 20,433 shares in the company, valued at $142,009.35. The disclosure for this purchase can be found here.

ION Geophysical Corporation is a technology focused company that provides geophysical technology, services and solutions to the global oil and gas industry. The Company offers services and products through four segments: Solutions, Systems, Software and Ocean Bottom Services (OBS). The Company’s Solutions segment provides over two service activities: Ventures group and Imaging Services group.

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